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Specialized companies buy shares and resell; Classified ads can hide fraud

12/11/2014

This article was translated by an automatic translation system, and was therefore not reviewed by people.

 

 



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In October this year, consortia hit a record of the last ten years, reaching 6 million active participants, according to the Brazilian Association of Consortium Administrators (ABAC). The search for the product is great because the credit modalide has no interest and is recommended for those who do not hurry to make a purchase and has no trouble contribute monthly with certain value. But hurry investors also find ways to benefit by buying shares in progress or letters already covered.

Consortia hit record and go six million active participants
It works like this: who owns one share in the consortium group can sell it at any time to another, transferring their ownership, even if you have a letter already covered. The new consortium replaces the old in the group and assume their responsibilities, as the payment of the remaining installments. The consortium managers do not realize this transaction, but the shareholder may make the sale on their own or seek the help of companies that make this intermediation - buy the quota and to resell to third parties.

According to Abac, the operation is legal, but inspires legal care to avoid scams and frauds.

John Gimenez is administrator of portals handbag Consortium Contemplated and objective, which mediates these transactions. Between purchase and sale of quotas, it states that performs about 120 transactions per month.

"It may happen that shareholder can no longer pay that consortium or even have a letter that is addressed in the drawer. He may transfer the share and take that money back, "he explains.

"Everyone wants to make money. The consortium members need to dispose of the shares and how their options are to wait until the end of the group or expect to be drawn, we will buy, "says Jair Lima, 52, owner of another company in the sector, the Consortium Purchase.


Companies such as Gimenez and Lima buy consortium quotas that have already been provided, but they were not to sell them after contemplation. It is a parallel market to the consortium managers.

"The letters addressed worth more on the market. If the card has a high and have been considered in first installments, the consortium can earn 15% to 20% more than they already paid, "he says.

According to Lima, the transaction is simple. "The person sends me the quota extract, with information such as the amount already paid and the remaining portions, and I return with a value proposition. It all depends on credit amount, if it is a healthy group, among other things. "

The only requirements for the consortium that have not been addressed is that they have paid for at least 20% of the value card. Contemplated cards can be traded from the first installment.

The portal aims Consortium, managed by Gimenez, buyers can acquire the shares directly from shareholders, without using intermediaries. In this type of transaction, there is no consumer protection code, since we have two individuals doing business.

The transfer of ownership can only be made in person at the consortium administrator. "The buyer has to attend along with the seller of the quota on a headquarters or branch manager, who will ask a series of information. The transfer contract term must have consent of the administrator, "explains Elaine da Silva Gomes, manager of the legal department of Abac.

Documents such as copies of the minutes confirming the contemplation of the letter, the contract signed at the time the consortium acquired the quota statements and the managing of changes that contract are required at this time.

Rafael Bilberry, manager of the Port Consortium Insurance says that less than 10% of the shares administered by the company are resold, and that the manager does not support the mediation by third parties. "We are not favorable. The manager does not have access to trading, do not know what was agreed. We caution that all new syndicated entering the group goes through a credit analysis. If denied, do not do the transfer of quota," explains .

When seller and buyer are in different municipalities and can not attend together the Administrator, a power of attorney of the quota seller sufficient to carry out the transaction. Ma there are caveats, says Eliana. "You have to be careful with the information that the shareholder will pass, as fathers name and documents. This buyer may be swindler. "

"The power of attorney must be public and specific, citing the group and the consortium quota and what you can do about that. Typically, the syndicated condition that is valid through proof of deposit on behalf of the consortium, "says Lima.

The consortium may also act in bad faith. "It may happen that make this shareholder proxy for two different people. Then the administrator accepts the power of attorney that comes first, "explains Lima.

Elaine says consumers need to be aware of classified ads that sell consortium of letters. Not all are suitable.

A civil servant Joseph Arruda, 50, was the victim of a coup. In 2011, he saw a newspaper ad selling "the dream of leaving the rent for only R $ 800 monthly." When contacted the owner, he said it was a letter addressed consortium - Arruda receive credit and joined the group.

"To enter the group with a contemplated letter, he told me that the down payment was £ 6000 and that the plots would be R $ 800. When I got the contract of the bank, the share was R $ 1,700" Arruda account.

According to the advertiser, the value of the parcels would be amortized after he received, in about 60 days, the letter of credit of US $ 250,000. But that did not happen and the installments of R $ 1.7000 kept coming.

"I tried to contact him, but he never answered me, I could not find it. I decided not to pay the installments until the loan money comes, but I discovered that I would lose money if he was in default of entry, "says the official.

Arruda decided to cancel the consortium. The bank confirmed the cancellation and told him that the money already invested could only be redeemed at the end of the group in 2027. "In the end, there was not contemplated letter. I gave the money as lost, "he says.

 

Source: IG

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